Dovish ECB and hawkish Fed paint a bearish outlook for the EUR/USD. Is declining to 1.0770 the next stop?
EUR/USD: euro in consolidation on Tenkan-sen
2022-04-15 • Updated
Technical levels: support – 1.1630; resistance – 1.1670.
- Sell — 1.1670; SL — 1.1690; TP1 — 1.1600; TP2 – 1.1580
Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling Kijun-sen; the prices are in consolidation inside a channel of Tenkan-Kijun.
Last week, EURUSD broke below a significant support level, the gas price retested its October high, and the oil prices managed to correct lower on the bearish signs of more oil supplies coming into the market.
This article will analyze the possible scenarios for the EU, and what's more important, look at the charts. There is a lot to see, let's go!
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